Shocked Monkey

I've been a Full-time Realtor for several years and there are few things that now shock or surprise me.  I've seen and heard almost everything.  Hearing from my clients what friends and family have to say about a property is almost a daily occurrence.  It's just part of the business.

I've found the client a property in the price range that they wanted and with the criteria that meets their needs.  I've showed them the comparable properties in the area.  I've completed their market analysis for them and given them the numbers so they can make a justifiable decision.  Then enters Max.

 

Conversation with Client:

Max says, "Offer them $25,000 less than listed price, and see what they say."

Ok, I will submit the offer. 

The following day.  They sellers rejected the offer.

What they didn't even counter?

No, I am sorry they didn't.  The agent said their sellers were insulted by the offer.

Insulted!  In this market they should be happy to get anything.

I understand where you are coming from, but houses in the area have sold for considerable more than what you offered.

My friend Max said that house isn't worth that.

I am sorry.  What does Max do for a living?

Max is retired and he has bought and sold a lot of properties in his day.

Is Max a Licensed Realtor?

No

Is Max a Licensed Appraiser?

No, but he knows what he's talking about.

Did Max give you some data that helped him come to his conclusion?

No, but Max has been my friend for years and he wouldn't lie to me.

I assure you.  As your Agent.  I have nothing, but Your best interest in mind.

Well, we will just let it sit on the market forever then.

Ok, I will inform the other agent.  Thank you for your business.

I work with Buyers and Sellers on a daily basis.  I stay up to date on the current Market Conditions.  This may be a difficult market now, but all Sellers are not desperate.  It's great to get feedback from family and friends, but remember to let your Professional do his or her job

Don't put the largest investment in your life in the hands of anyone. 

When looking for a Realtor in this market; you need to be assured that your Realtor knows YOUR market!!!  Looking for Real Estate in the Ft. Smith, AR and River Valley Area.  Remember, "To Buy or Sell'um, Call Ray Nellum!"  479-414-1895

Ft. Smith Real Estate

 

 

3 Comments on My Friend Max Said That House Isn't Worth That!

JAN
27
2008

Ray, a great post! I guess most real estate agents have to deal with the "expert" friend or family member at one time or another, and this was your lucky day ;-) . Love the picture!


4:26pm • #1
JAN
28
2008
456,745 Points 13 Featured Posts Localism Sponsor Outside Blog

Ray - We have to encounter this situation more and more these days.  I had a seller who was even giving me the opinion of a school age kid, go figure.

2:24am • #2
3 Featured Posts

Along the same lines, here's a conversation I seem to be having way too often:

Mr. & Mrs. Buyer  Offer them $25,000 less than listed price, and see what they say. 

Expert Realtor (me)  I understand that you want a great deal, and I want you to get a deal.  However, regardless of market conditions a Seller typically only accepts an offer of fair market value (which I say really slowly). 

Mr. & Mrs. B  In this market they should be happy to get anything.

Realtor  Unfortunately we don't know the Seller's motivation.  Perhaps they are upside down and can not afford to sell for less.  Perhaps they don't have a mortgage and will pocket the proceeds.  Perhaps it's a death or divorce situation.  Perhaps their Realtor hasn't properly advised them.  We simply don't know which is why a Buyer should offer fair market value (the second time I enunciate more).

Mr. & Mrs. B  Well, we will just let it sit on the market forever then.

Realtor  So you're OK with missing out on your dream home just to spite a Seller that you think has over priced even though the comps say otherwise?

I generally know how serious the Buyer is based on his response at this point.  :)

9:37pm • #3

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Ray Nellum Fort Smith Real Estate

Fort Smith, AR

More about me…

Warnock Real Estate, LLC.

Address: 105 North 14th Street, Fort Smith, AR, 72901

Cell Phone: (479) 414-1894

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